Comment by al_borland

If I was a developer and building owner who only cared about money, it seems like it would be much better to build a luxury building where the units are sold, but sit empty most of the time. This seems to be the environment in NYC. The proper systems need to be in place so it makes sense to build housing for actual people, rather than building stored real estate value for the ultra rich, especially foreign investors who may never even set foot in the US and are just looking to diversify their portfolio.

I’m not an “eat the rich” person, but these mostly vacant buildings in a city with a housing affordability problem are a crime. I don’t necessarily fault the billionaires for this, I fault the politicians who sat back and watched it happen, approving all the projects along the way.